A fully leased 8,000-square-foot retail building at 504 E Avenue E, home to Highland Drug Store and other local businesses, is now on the market for $1.75 million. The listing offers a 3.10% cap rate and features long-time tenants in a well-maintained property.
Built in 1971 and recently updated with a new roof and some new flooring, the property sits on a 0.53-acre corner lot in downtown Alpine. It includes paved parking with 20 spaces and approximately 142 feet of frontage on E Avenue E.
Current tenants include Highland Drug Store, Reliance Medical Supplies, a dry cleaner, and a karate studio. According to lease agreements, tenants cover property taxes and insurance, while the owner is responsible for maintenance.
Financials show a gross rental income of $99,999 annually. The building is zoned for mixed retail use and is located in a high-foot-traffic area near Sul Ross State University, local restaurants, and the hospital.
For more information, contact:
- Dan Mata, Pacificwide Business Group Inc., (559) 795-9795
The listing (ID 34615584) was posted January 27, 2025, and last updated April 4, 2025.
